Gap Inc. is planning to use Amazon to strengthen its business.
“We are always considering all of the opportunities beyond our traditional mix of channels and stores. Amazon is certainly one, and there are others as well,” Gap CEO, Art Peck said.
“It’s no secret that Amazon is a huge threat to traditional mall-based retailers and department stores, and that threat is only getting more ominous.”
According to a recent Morgan Stanley report, Amazon is the second-largest apparel retailer, with only Walmart ahead of it. It’s posed to hold the biggest share of the apparel market by 2020, the report said.
Since last year, Peck has pinpointed spring 2016 as the company’s turnaround. Fortunately, things are looking better for the company’s namesake brand. Gap’s sales were down three per cent in the first quarter, versus 10 per cent this time last year. A recent walk through Gap showed that the company was slowly returning to its roots.
